Which one of the following is the primary contribution of the Claims Department

ID: 1175200 • Letter: W

Question

Which one of the following is the primary contribution of the Claims Department to the Actuarial Department at most insurance companies?

Select one:

a. The Claims Department sets the insurance rates to be used by the Actuarial Department

b. The Claims Department provides information used by the Actuarial Department in setting loss reserves

c. The Claims Department determines which exclusions and endorsements should be added to insurance policies written by the insurance company

d. The Claims Department evaluates the risk presented by insureds and determines whether to continue to insure them

Claim department interact with customers and provide data and information to actuaries.

So correct information is:

b. The Claims Department provides information used by the Actuarial Department in setting loss reserves

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